Hi @Mouchan, Could you kindly help me with getting a letter of support. Because the gentleman up there just told "persistency" but I tried and the reuslt was a lot more complicated than that. the incubators and angel investors want a lot more details about the business concept, the business plan, the dedicated team, a prototype perhaps, etc which is impossible without having an actual company, a lawyer, a business developer, an accountant and other specialists
Applying for a Start-Up Visa directly?
- Thread starter itsmelee
- Start date
From my experience speaking with several incubators, and now having gone through the process of formally applying at one (which is still ongoing - my work permit is pending, obtaining a Letter of Support is quite a rigorous affair; incubators don't tend to hand them out for very early ideas. IRCC imposes strict applicant requirements on the incubators - they're required to assess the candidate in depth, gauge the likelihood of success transplanting the idea to Canada, and (at least from all the incubators I've seen), provide a program of ongoing support.
To apply, I had to put together a pitchdeck, a business plan, and do a video interview. I had an existing company overseas, and 20 years of experience building and selling companies - which I think helped a lot. After passing the initial round, my application was shared with business owners in the tech community, who then voted for which companies they believed had the strongest likelihood of success. When I was accepted into the program, I - along with other candidates - were given 8 weeks of training and introduction to bankers, accountants, lawyers and other professionals to set-up a Canadian company and understand the requisite foundations of forming and running a company in Canada.
The Letter of Support was offered at the tail end of this process, at the point of formally applying to the Canadian government and after already having invested $25k+ at this point.
I'd generally recommend any candidate applying, get their idea to a stage where it's almost ready to market, in their home country. Develop the product, build a website, and start going down the path of attracting customers if you can. A start-up that has traction will be far more attractive than a candidate that shows up with an early idea and not much else. Incubators seem swamped with applications, so they've got their pick of the strongest candidates.
After getting PR through start-up incubator program. If a member Doesn't want to continue the incubator program. Will his PR status be affected or in future will there be any problem to get the citizenship?
Is anyone please explain me the procedure for Start up visa in detail. I am from india. How much amount i need to invest ? How much time it will take ? How to apply ? All details please
Read https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/start-visa.html
Find an incubator/investor that likes your business and ask for their requirements. Each is different. Plan on up to 18 months end-to-end, $30-50k in outgoings, and in some cases, a % of your company as equity.
Yes you could run into problems if you don’t do the incubator program because you mislead IRCC. If you try to get your business up and running that is a different story. If you arrive and start applying for jobs at a company you would have misrepresented your intentions on your application. If there is anything that IRCC hates is people who lie on their various applications.
Yes, that's right. I did not read that word properly :
The primary intention must be regarding the execution of the proposed business venture and not to take the privilege and abuse of the program.
Having said that, Normally, we don't have a conditional letter of support. incubators normally would not issue the applicant with a commitment certificate or letter of support unless the applicant has already participated in their program and in numerous cases that I have seen they ask the applicant to establish their business in Canada, have Canadian partner and start selling the service even before issuing a Letter of support and if those steps already been taken, it won't be that much simple to be interepretted as "missslead".
Hi, Guys,
I have also received my letter of support in Sept 2019 from an incubator and applied for PR in the end of Oct 2019, having provided my biometrics but since then no news!
Does anybody know how long the process will take this year?
Also if I want to apply for work permit, does it have to be in the Validity Period of my Letter Of Support?
Thanks for your helpful advice.
I have also received my letter of support in Sept 2019 from an incubator and applied for PR in the end of Oct 2019, having provided my biometrics but since then no news!
Does anybody know how long the process will take this year?
Also if I want to apply for work permit, does it have to be in the Validity Period of my Letter Of Support?
Thanks for your helpful advice.
Buckle up, it can take a while.
My work permit took 6 months to come through. Didn't hear anything until it was approved.
PR is predicted at 12-16 months currently.
Based on an end of Oct '19 date, you're likely looking at mid-2021, but you might get lucky -- some apps only take 6-12 months.
@startup2019 your questions have been answered well by @itsmelee
I will add that you should exercise patience as you may not hear anything even after 5 months of submitting your biometric but once the processing starts it runs fast.
As at last October 2019, the processing time was 13 months but its now 12-16 months.
Yes, you can apply for Work Permit once your Letter of Support is valid but my advice will be for you not to bother wasting money and time processing WP.
The processing office for WP rarely knows anything about SUV, hence it will be processed as a regular WP.
All the best!
Thank you both for your prompt responses.
But it is still not clear for me if I can apply for work permit even though my Letter Of Support is expired? (Letter of support has 6 month validity)
But it is still not clear for me if I can apply for work permit even though my Letter Of Support is expired? (Letter of support has 6 month validity)
Hi Guys,
Great information discussed here.
I have applied for my PR and not yet for work permit.
Doe anyone know, if applying for work permit after submitting my PR, requires to be in the validity period of the Letter Of Support (6 months from issuing date)?
Thanks in advanced for your helpful information.
Great information discussed here.
I have applied for my PR and not yet for work permit.
Doe anyone know, if applying for work permit after submitting my PR, requires to be in the validity period of the Letter Of Support (6 months from issuing date)?
Thanks in advanced for your helpful information.
@startup2019 my Letter of Support is valid for 1 year
I'm surprised that yours is valid for only 6 months. I sense you were expected to immediately apply for WP once it was issued.
The Letter of Support is a very important document for SUV if not the most important.
My advice will be to reach out to the incubator to extend the validity (in that case, they will also need to update the one sent to the Government)
When is the AOR of your PR application?
I'm surprised that yours is valid for only 6 months. I sense you were expected to immediately apply for WP once it was issued.
The Letter of Support is a very important document for SUV if not the most important.
My advice will be to reach out to the incubator to extend the validity (in that case, they will also need to update the one sent to the Government)
When is the AOR of your PR application?